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." >> major funding for the pbs newshour has been provided by: ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. >> and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> warner: five days and counting with plenty of tit-for- tat charges, but no agreement in sight. that, in short, summed up the state of affairs in washington today as the fiscal cliff deadline loomed, january first. it would mean more than $600 billion in across-the-board tax increases and automatic spending cuts. >> come the first of this year, americans will have less income than they have today. if we go over the cliff, and it looks like that's where we're headed. >> warner: this morning, the senate's democratic majority leader, harry reid, was blunt about chances for a
." >> major funding for the pbs newshour has been provided by: ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. >> and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions...
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economy. >> congress wasn't just voting on a fiscal package. they were voting on whether or not they wanted the economy to slip into contraction in the first half of 2013. >> reporter: but, it's not clear the economy is in any better shape, as a result of the deal. >> overall , it should be a little bit of a drag. when tax rates go up, there will be less money around to spend. there will be a lower savings rate most likely. >> reporter: the budget bill raises the top marginal tax rate to 39.6%. those top earners will also pay higher taxes on their investments. but, many of those households will be able to absorb the tax increases by lowering their savings rates. the bigger concern is what happens to spending by lower and middle income consumers. the decision not to extend the payroll tax cuts for all workers, means the average household will have a thousand dollars less income this year. >> a lot of working class and middle income households do live paycheck to paycheck. so if suddenly those paychecks are 1% to 2% points lower, that doesn't see
economy. >> congress wasn't just voting on a fiscal package. they were voting on whether or not they wanted the economy to slip into contraction in the first half of 2013. >> reporter: but, it's not clear the economy is in any better shape, as a result of the deal. >> overall , it should be a little bit of a drag. when tax rates go up, there will be less money around to spend. there will be a lower savings rate most likely. >> reporter: the budget bill raises the top...
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what will stocks do next year, how will the economy fare? and, what will be the nation's top spice or flavor? believe it or not, spicemaker mccormick and company issues an annual "flavor forecast," designed for restaurants and homes. suzanne pratt met with the man behind the tastes, mccormick's top chef, and got a close-up "smell". >> reporter: here's how american's spiced up their cooking in the past, a lot of salt, a dash of pepper and easy on the garlic. but, u.s. palates are expanding, and now include everything from smoked paprika to dukkah. that's right dukkah, what mccormick executive chef kevan vetter thinks will be a big hit with american tastebuds in the next few years. >> the dukkah is a spice blend made up of toasted nuts and toasted spices, very rich and savory. it's got a very rich texture aspect to it combination. the trend here that we're talking about is empowered eating. people are trying to be more thoughtful about what they're eating and make better choices. you know dukkah is a great example of something that could trans
what will stocks do next year, how will the economy fare? and, what will be the nation's top spice or flavor? believe it or not, spicemaker mccormick and company issues an annual "flavor forecast," designed for restaurants and homes. suzanne pratt met with the man behind the tastes, mccormick's top chef, and got a close-up "smell". >> reporter: here's how american's spiced up their cooking in the past, a lot of salt, a dash of pepper and easy on the garlic. but, u.s....
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and, in an effort to boost the economy, small businesses would be eligible for another year of bonus depreciation when they buy equipment. the big hang up is what to do about the sequester-- $110 billion in automatic spending cuts in defense and domestic programs that begin at midnight. democrats want to postpone the cuts for a year or more. republicans for just a few months. >> i think there are some republicans who believe there is no other trigger that will force another full scale debate on spending. >> the president says taxincrea. cutting spenting next year. >> iif they think that is thefos thing they have another think coming. that is not how it's going to work. we have to do this in a balanced and responsible way. and if we are serious about debt reduction then it's going to be a matter of shared sacrifice. that outraged republicans that accused the republicans from moving the goalpost. >> the revenue that has beencams being used not to reduce deficit but to keep spending cogs that s that have been agreed to from not happening. >> suessy it looks like a source negotiating rig
and, in an effort to boost the economy, small businesses would be eligible for another year of bonus depreciation when they buy equipment. the big hang up is what to do about the sequester-- $110 billion in automatic spending cuts in defense and domestic programs that begin at midnight. democrats want to postpone the cuts for a year or more. republicans for just a few months. >> i think there are some republicans who believe there is no other trigger that will force another full scale...
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economy. dockworkers at some of the nation's biggest ports could walk off the job this weekend, if a new labor deal isn't reached. as allison worrell reports, a strike could ripple far beyond the ports. >> reporter: if a deal isn't reached by 12:01 a.m. sunday, union dock-workers will take to the picket-line. 15 ports span the east and gulf coasts. and while they're in different locations, handling different types of cargo, they all agree, a strike would be very bad for business. >> it's really important for the people in our country to recognize, in this state, that a strike combined with the ongoing negotiations between congress and president obama regarding, um, the so-called fiscal cliff could be a one, two combination knock out for nation's economy. >> if a strike does happen that means a big chunk of the more than 14,000 members of the international longshoresmen association will be off the job. >> reporter: the ports impacted generate an estimated $11 billion in state and local taxes an
economy. dockworkers at some of the nation's biggest ports could walk off the job this weekend, if a new labor deal isn't reached. as allison worrell reports, a strike could ripple far beyond the ports. >> reporter: if a deal isn't reached by 12:01 a.m. sunday, union dock-workers will take to the picket-line. 15 ports span the east and gulf coasts. and while they're in different locations, handling different types of cargo, they all agree, a strike would be very bad for business. >>...
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here, which could hurt them at the ballot box. >> let's pick up on the reports of the economy. there have been reports of people taking savings out of banks. is there fear there could be capital flight out of egypt and possibly even the liberal people who are not happy with this constitution, uping stakes, leaving the country and ep grating. >> there are all sorts of fears, and there are some people who will be frightened about that. other members of the opposition say they will continue to fight against this constitution, and they will try and do it through parliament. they will try and do it through the election campaign. what president morsi and his supporters are saying is this constitution isn't necessarily set in stone. they have suggested there may be the possibility of amendment. depending on who you speak to will depend on who believes that. what they are saying, the muslim brotherhood and president morsi, is that these are the first steps in egypt's new democracy and that it is a messy process. what you have at the moment is that process of democracy carrying on and t
here, which could hurt them at the ballot box. >> let's pick up on the reports of the economy. there have been reports of people taking savings out of banks. is there fear there could be capital flight out of egypt and possibly even the liberal people who are not happy with this constitution, uping stakes, leaving the country and ep grating. >> there are all sorts of fears, and there are some people who will be frightened about that. other members of the opposition say they will...
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. >> the american people are not going to have patience with a self-inflicted wound on the economy. >> reporter: senate republican leader mitch mcconnell called the white house meeting a good one and he told his fellow republicans he hoped to have a fiscal cliff recommendation soon. >> we will be working hard to see if we can get there in next 24 hours and so i am hopeful and optimistic. >> reporter: but the sticking point remains finding something that can make it through the house with enough support from republicans. >> it seems like the 250 threshold that the president proposed previously is unlikely to pass the house in its current form, and so without some sort of additional compromise there, it seems unlikely that we're going to get something done before the end of the year. >> susie: you know thanks for that report. i am just wondering from all of the reporting you have done, do you think we are better off with a bad deal than no deal at all? >> you know susie when peopletal they are talking about a bad deal in political terms. frankly it's republicans that are most worried ab
. >> the american people are not going to have patience with a self-inflicted wound on the economy. >> reporter: senate republican leader mitch mcconnell called the white house meeting a good one and he told his fellow republicans he hoped to have a fiscal cliff recommendation soon. >> we will be working hard to see if we can get there in next 24 hours and so i am hopeful and optimistic. >> reporter: but the sticking point remains finding something that can make it...
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the world economy. people know it is serious, but the politics, we know that the house and senate republicans do not want to increase taxes on anybody, so it is very difficult to see how a package can get through congress, certainly in time for the new year. one guess is that they could that the fiscal cliff deadline lapse and then in the new year try to look at it in january to reduce taxes on those people while raising them for the rich, but that is after dropping off. >> we have learned that nancy pelosi is saying that senate leaders will try to craft a fiscal cliff deal. as ben said, they are not giving any details, no specifics, they're not going to, but nancy pelosi said it will try to craft some sort of deal to avoid heading off the edge of the fiscal cliff. >>> the outgoing prime minister mario monti said he will contest the general election in february. he will lead a coalition of supporting his reform agenda. his appointment last year as the head of the technocratic government sought to end th
the world economy. people know it is serious, but the politics, we know that the house and senate republicans do not want to increase taxes on anybody, so it is very difficult to see how a package can get through congress, certainly in time for the new year. one guess is that they could that the fiscal cliff deadline lapse and then in the new year try to look at it in january to reduce taxes on those people while raising them for the rich, but that is after dropping off. >> we have...
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that said, this economy has been plugging along. what steve is talking about are some really dangerous things. we're heading into another standoff over the debt ceiling. we all remember how that worked out in august 2011. it hurt business confidence. it floated the possibility of a federal government default. we had a credit downgrade of the u.s. credit rating. those were all things that undermind business confidence and made 2011 a worse year than it might have been. the next round of brinksmanship of negotiations we might see that again. let's hope this is a crisper series of negotiations that aren't quite as scary for business and the economy. >> woodruff: in a word, steve own, is that something members are prepared to do? >> i see a lot more brinksmanship. i think it could get very, vur ugly. we might get-- thaeft theor they it's going to take the markets freaking out again before they come up with another deal. >> woodruff: we'll only hope that's not going to happen. steven dennis, neil irwin, we thank you both. >> brown: and t
that said, this economy has been plugging along. what steve is talking about are some really dangerous things. we're heading into another standoff over the debt ceiling. we all remember how that worked out in august 2011. it hurt business confidence. it floated the possibility of a federal government default. we had a credit downgrade of the u.s. credit rating. those were all things that undermind business confidence and made 2011 a worse year than it might have been. the next round of...
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abe has called for bold measures to bolster japan's ailing economy. he previously served as prime minister from 2006 to 2007. russian lawmakers gave final approval today to a ban on americans adopting russian children. it's part of a series of reactions to a u.s. sanctions law targeting russian human rights abusers. in washington today, a state department spokesman called the ban misguided. and adoption groups in moscow said it would harm children most. >> ( translated ): today we don't have that number of russian families who are willing to adopt, and the children who go to adopted families abroad are the children that russian families wouldn't take. there must be at least five refusals by russian families for the child to go to foreign parents. for that reason i don't see within this law an improved situation for these children. >> holman: russian president vladimir putin defended the legislation last week, without saying directly that he would sign it. in economic news, a mastercard report said u.s. holiday sales so far have been the weakest since
abe has called for bold measures to bolster japan's ailing economy. he previously served as prime minister from 2006 to 2007. russian lawmakers gave final approval today to a ban on americans adopting russian children. it's part of a series of reactions to a u.s. sanctions law targeting russian human rights abusers. in washington today, a state department spokesman called the ban misguided. and adoption groups in moscow said it would harm children most. >> ( translated ): today we don't...
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and that's because i think having economy-wide legislation sends an unequivocal signal to the private sector that we really mean it, that we're moving towards green energy. >> brown: but a bill to cap greenhouse gases foundered in the democratic-controlled senate and never made it to the president's desk. jackson also pushed a rule to reduce smog, but it faced bitter opposition from republicans and industry over the cost and potential effect on jobs, and
and that's because i think having economy-wide legislation sends an unequivocal signal to the private sector that we really mean it, that we're moving towards green energy. >> brown: but a bill to cap greenhouse gases foundered in the democratic-controlled senate and never made it to the president's desk. jackson also pushed a rule to reduce smog, but it faced bitter opposition from republicans and industry over the cost and potential effect on jobs, and
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but the economy always gets in the way of foreign policy. about the only piece to foreign policy that made its way to the campaign is first president obama's often repeated claim that he had taken doubt osama bin laden. and the benghazi. there's a coverup going here. something's wrong. it ended up being the wrangled poor susan rice's poor talking points. but even under that one, there was a bigger picture and a bigger december lesson that we can draw, which is the fighting in libya that produced the attack on the american consulate is part of the very long aftermath of what we used to call the arab spring. john kerry said we shouldn't call it that. it's going to take longer than one spring. and the people who did it were not members of the old al-qaeda. they were an off-shoot. they were inspired by al-qaeda. osama isn't there anymore. and that it's -- and the old al-qaeda probably doesn't have the capability to do 9/11 anymore but the problem of extremism is still out there and we have a very long way to go. >> i was going to ask about one t
but the economy always gets in the way of foreign policy. about the only piece to foreign policy that made its way to the campaign is first president obama's often repeated claim that he had taken doubt osama bin laden. and the benghazi. there's a coverup going here. something's wrong. it ended up being the wrangled poor susan rice's poor talking points. but even under that one, there was a bigger picture and a bigger december lesson that we can draw, which is the fighting in libya that...
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economy: small and medium-size businesses. and the fastest-growing segment are those small businesses owned and operated by women. let's meet some women now who are tipping their hat, both to history and to future growth. it has been going on at paul's hat works in san francisco's richmond district since 1918, the making of hats. lineage that runs from its peruvian founder over 94 years to four young women from the neighborhood. >> we were kind of an odd bunch before, didn't plan to be hatters, as most people probably don't, and stumbled on it, really did. stumbled on it. and the story and the ambience and that's what took us. >> mike: the story is a familiar one: in 2009, battered by the down economy, the owner needed to sell, no one would buy. so the option was to shut it down, walk away, hat in hand. except in walked a preschool preschool teacher, two costumers and a bookkeeper, saviors in bright colors, with passion. >> we did it because, a, this place was going to evaporate if we didn't. nobody else was going to do it. th
economy: small and medium-size businesses. and the fastest-growing segment are those small businesses owned and operated by women. let's meet some women now who are tipping their hat, both to history and to future growth. it has been going on at paul's hat works in san francisco's richmond district since 1918, the making of hats. lineage that runs from its peruvian founder over 94 years to four young women from the neighborhood. >> we were kind of an odd bunch before, didn't plan to be...
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moving our economy for 160 years. bnsf, the engine that connects us. >> and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> woodruff: the old year ticked down today, and with it went any hope of meeting the midnight "fiscal cliff" deadline. house republicans opted not to hold any votes on the issue tonight. so-- officially, at least-- more than $600 million in tax hikes and spending cuts begin taking effect tomorrow. in the meantime, senate republicans and the white house continue working on a possible deal. . >> are running out of time. americans are still threatened with a tax hike in just a few hours. >> new year's eve morning at the capitol began with a warning from senate majority leader harry reid. after a long weekend dush -- weekend of tense n
moving our economy for 160 years. bnsf, the engine that connects us. >> and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> woodruff: the old...
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the fact that the stock market is up sometimes is a reflection of a strong economy. not always. the problem that i had with this bill is that it takes 3.9 trillion dollars of revenue off the table and it sets up 3 fiscal cliffs over the next few months. the only issues that we will be discussing is what to cut and how deeply to cut it. i actually believe that if the federal government can play a constructive role in society, we have an investment deficit in terms of education and skills training and research and innovation. we will not have the resources to be able to provide those kinds of services to the american public let alone to our children's future. >> when all the things that he mentioned that america needs to do not just in the short term, with these two new hurdles, but in the longer term, immigration, energy, all of the big things. washington cannot get anything done if we have had this kind of an absurd fight over this 1 deal. >> 1 of the things you will notice is that the house passed a bill on a bipartisan basis and sent them to the senate. the senate did not take
the fact that the stock market is up sometimes is a reflection of a strong economy. not always. the problem that i had with this bill is that it takes 3.9 trillion dollars of revenue off the table and it sets up 3 fiscal cliffs over the next few months. the only issues that we will be discussing is what to cut and how deeply to cut it. i actually believe that if the federal government can play a constructive role in society, we have an investment deficit in terms of education and skills...
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the uncertainty is already hurting the economy here and americans are angry. >> there is no reason they can't sell it. >> i'm frustrated with all of capitol hill. it is a lot of people to feel that way. it is disgraceful what's going on and we have to put some people who will compromise and of these guys can do it, get rid of them. >> even if the deal isn't found, it won't fix america's budget problems. the government has been tried and found wanting. >> let's take you back to the scene of the greek capital, athens. we did not do it much just as we came to at midnight but the fireworks are under way. it is a country in the deep crypts of austerity budget is perhaps the greeks for getting the financial woes of the country for a few hours. let's leave this beautiful scenes in aphids and go back to the continuing saga on capitol hill. steve kingston is following develops -- following developments. >> both sides are expressing cautious optimism that the framework appears to be in place. president obama said at an agreement was in sight but not dead yet. there is a republican senate, but mcc
the uncertainty is already hurting the economy here and americans are angry. >> there is no reason they can't sell it. >> i'm frustrated with all of capitol hill. it is a lot of people to feel that way. it is disgraceful what's going on and we have to put some people who will compromise and of these guys can do it, get rid of them. >> even if the deal isn't found, it won't fix america's budget problems. the government has been tried and found wanting. >> let's take you...
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those health care costs are now 18% of total gross domestic product, the total economy. and those are we what we have to deal with and we have to get control over them. medicare is not the problem. medicare costs are going up because health care costs are going up. >> brown: doug, do you buy that? that that's where the emphasis should be instead of the -- as opposed to entitlements? >> well, i think there are three important points here. first, health care reform means medicare reform. medicare drives the practice of medicine in america. it's a system that rewards quantity over qualitoÑ it's a system that's fragmented, we pay doctors one way, hospitals another, insurance companies another, drug companies a fourth way. it needs to be overhauled so that it rewards quality and provides coordination so medicare reform is health care reform. the second is sort of how do we get there? i think it's important to recognize that this country often has the situation we have-- mixed government-- that's more and more an exception and when we do debt ceiling ceiling increases it is t
those health care costs are now 18% of total gross domestic product, the total economy. and those are we what we have to deal with and we have to get control over them. medicare is not the problem. medicare costs are going up because health care costs are going up. >> brown: doug, do you buy that? that that's where the emphasis should be instead of the -- as opposed to entitlements? >> well, i think there are three important points here. first, health care reform means medicare...
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are we going to go the way of europe or are we going to try to stimulate the economy back into a more comfortable spot, rather than waiting for it to grow by inches as we've been doing. >> there were a lot of issues on the state ballot, and tyche, you can say governor brown put all his eggs in one basket, proposition 30, and it passed. what does he get. >> well, he gets forward momentum, which was really, i think, really in question for a while. there were folks saying, you know, if prop 30's polling below 60% of the vote that it's sunk, that you can't pass a tax measure with such a close margin. it ended up passing with a 55%-45% margin. and it really -- i think you were talking about voter turnout efforts. there was a very sophisticated effort for prop 30 and against prop 32 that would have restricted union political contributions, that had some union money behind it, and also a lot of organizations like voto latino, like mi familia, civic groups that are looking at engaging voters who are in many cases not regular voters and have been written off as we can't depend on them. and the
are we going to go the way of europe or are we going to try to stimulate the economy back into a more comfortable spot, rather than waiting for it to grow by inches as we've been doing. >> there were a lot of issues on the state ballot, and tyche, you can say governor brown put all his eggs in one basket, proposition 30, and it passed. what does he get. >> well, he gets forward momentum, which was really, i think, really in question for a while. there were folks saying, you know, if...
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mohammad morsi says the economy will be the number one priority. but the main opposition had said it rejects calls for more dialogue. he also believes the constitution will bring more stability and security. >> he says it is the beginning of a new era for egypt. the first time the country has had a constitution that has not been imposed by an occupier of king's or a president. he congratulated the people of egypt. he did also acknowledged that a lot of egyptians had voted against the constitution and he said that was a healthy find in the society and he says egypt is in the early stages of a democracy. for him, he says this is a point to bring stability back again. >> he's also talking about a national dialogue. there are so many people, despite the result, there are many people who do not like what he wants to do. >> very much so. there was earlier this afternoon another round of that dialogue, which the major opposition group did not take part in. there are very big bridges that mr. morsi us to try to build up the moment. the opposition has said
mohammad morsi says the economy will be the number one priority. but the main opposition had said it rejects calls for more dialogue. he also believes the constitution will bring more stability and security. >> he says it is the beginning of a new era for egypt. the first time the country has had a constitution that has not been imposed by an occupier of king's or a president. he congratulated the people of egypt. he did also acknowledged that a lot of egyptians had voted against the...
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economy has dodged a potentially crippling strike at ports up and down the east coast and gulf coast at least, for now. the longshoremen's union agreed today to extend its existing contract by another month. that word came after the union and shipping lines worked out a deal on royalty payments for unloading containers. the contract extension gives the two sides time to resolve their remaining issues. wall street finished the week with its fifth straight losing session. stocks have been falling as concern mounts that washington will fail to get a budget deal. the dow jones industrial average lost 158 points today, to close at 12,938. the nasdaq fell 25 points to close at 2,960. for the week, both the dow and the nasdaq fell 2%. sectarian tensions flared across iraq today as tens of thousands of sunnis staged mass protests against the shi-ite-led government. there were rallies in fallujah and ramadi, where protests already had erupted earlier this week. today, mosul, tikrit and samarra had demonstrations as well. protesters took to the streets waving flags and signs. they chanted slog
economy has dodged a potentially crippling strike at ports up and down the east coast and gulf coast at least, for now. the longshoremen's union agreed today to extend its existing contract by another month. that word came after the union and shipping lines worked out a deal on royalty payments for unloading containers. the contract extension gives the two sides time to resolve their remaining issues. wall street finished the week with its fifth straight losing session. stocks have been falling...
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and, unfortunately, we didn't make the fuel economy on either car. what we want to communicate to you guys is how proud we are of you. the adults are really proud of each other. we've had a wonderful time working on this project. and really, really at the end of the day, this is an educational experience. and every single adult here has pulled ann and i aside and told us how impressed they are with you and what an incredible experience this is. you know, as a teenager, you might not realize everything that you've learned. but looking back on it, you will. and so for that, we're really proud. >> folks haven't heard the last of west philly. you know, we still... we still got more to do. just because we may not be in the x prize competition until the end doesn't mean we can't continue to the end to reach that 100 mile per gallon ratio and then put it in front of everybody and say, "we still were able to accomplish what we set out to do." >> and i wanna tell you something, one little, quick little blurb. you all heard me say how respect isn't given away,
and, unfortunately, we didn't make the fuel economy on either car. what we want to communicate to you guys is how proud we are of you. the adults are really proud of each other. we've had a wonderful time working on this project. and really, really at the end of the day, this is an educational experience. and every single adult here has pulled ann and i aside and told us how impressed they are with you and what an incredible experience this is. you know, as a teenager, you might not realize...
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the economy started to work. everyone thinks it is oil prices. no. it is oil price, one element, is important. but also how government and how leadership of the country work together in order to make rules and circumstances for the growth and also for young people to get jobs, for example. look at spain now. the word is at 50% of young people on unemployment. >> rose: that is the number. >> it's terrifying, correct. >> rose: yes so then at 25 you don't know how every second, young professional doesn't know where he will work. so russia does maybe a little bit better than average in europe. with human rights, well, the stories get famous, they even get more famous than the killing of miners in south africa which amazes me in the modern world. >> rose: you mean the story does get a lot of attention. but there were even medvedev thought, had some question about how long they should be in prison. >> i think they should not even talk about seven years, that's ridiculous. >> rose: i mean your friend, the president could stop this in a second. >> well, i do
the economy started to work. everyone thinks it is oil prices. no. it is oil price, one element, is important. but also how government and how leadership of the country work together in order to make rules and circumstances for the growth and also for young people to get jobs, for example. look at spain now. the word is at 50% of young people on unemployment. >> rose: that is the number. >> it's terrifying, correct. >> rose: yes so then at 25 you don't know how every second,...
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Dec 28, 2012
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. >> why is the american economy teetering on the edge of the cliffs? these are some of the things that president obama is trying to prevent with the return to the lighthouse. an employment has fallen to a four year low and currently stands at 7.7%. no deal could mean 2.1 million jobs disappearing parent to it would equate to a contraction of 1.5% in the value of all goods and services america producers meaning less money to afraid with the rest of the world. as far as the republicans concerned, there is that we will not give you a blank check. >> mitch mcconnell, the republican leader in the senate, said that he thought there was still time to avert what he called a budgetary fiscal crisis on tuesday the 31st. all of these attacks increases and spending cuts kick in. he is not very optimistic that the deal can be done. everybody is blaming each other. people in the senate have convened today, the house of rep is evidence, particularly the house of representatives. and as a lot of talking lot of brinkmanship, a lot of blame being traded and quite a lot
. >> why is the american economy teetering on the edge of the cliffs? these are some of the things that president obama is trying to prevent with the return to the lighthouse. an employment has fallen to a four year low and currently stands at 7.7%. no deal could mean 2.1 million jobs disappearing parent to it would equate to a contraction of 1.5% in the value of all goods and services america producers meaning less money to afraid with the rest of the world. as far as the republicans...
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Dec 26, 2012
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ahead on tonight's newshour.n >> major funding for the pbs newshour has been provided by: moving our economy for 160 years. bnsf, the engine that connects us. >> and by the bill and melinda gates foundation. dedicated to the idea that all people deserve the chance to live a healthy, productive life. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> ifill: much of the world paused today to observe christmas. the day brought all the traditional rites of faith for christians and a new urgency to calls for calm in the troubled corners of the globe. thousands of the faithful greeted pope benedict xvi today at his cal bony overlooking st. peter's square. in that timeless setting, the pontiff issued a new appeal for an end to violence especially in syria. >> may peace be for the people of syria, deeply wounded and divided by a conflict which has not spared even the defenseless and reached innocent victims. >> ifill: p
ahead on tonight's newshour.n >> major funding for the pbs newshour has been provided by: moving our economy for 160 years. bnsf, the engine that connects us. >> and by the bill and melinda gates foundation. dedicated to the idea that all people deserve the chance to live a healthy, productive life. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by...
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Dec 27, 2012
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economy: home prices post their biggest advance in two years. that and more tonight on "n.b.r."! christmas may be over, but the holiday shopping season continues.
economy: home prices post their biggest advance in two years. that and more tonight on "n.b.r."! christmas may be over, but the holiday shopping season continues.
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Dec 31, 2012
12/12
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it went from a centralized state of economy to a mixed economy that evolves from central state economy aspects and some market aspects, but not in the manner that actually allowed the market to be efficient at all. >> when did this change occur from centralized next? >> most of these countries, the late developed countries, they underwent a period where they had to actually involve the masses in order to gain support. and legitimacy. when this process, for a variety of reasons began to create problems for the regimes in power, and when external support and pressure for some of these regimes and for some of the directions that were unable at the time moving towards a market economy around the 1980s took place, you saw a lot of these third world regimes, or the global south, begin to move from a central economy to more market oriented economy and the international financial institutions like the imf and the world bank played a role in doing so, because they would literally place condition now is on loans. the conditionality and called moving markets into the economy. >> what role does th
it went from a centralized state of economy to a mixed economy that evolves from central state economy aspects and some market aspects, but not in the manner that actually allowed the market to be efficient at all. >> when did this change occur from centralized next? >> most of these countries, the late developed countries, they underwent a period where they had to actually involve the masses in order to gain support. and legitimacy. when this process, for a variety of reasons began...
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Dec 29, 2012
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with we've got to decarbonize the economy and the way we do that is expand the economy. there's really only one country that we can point to that has been able to continue to expand its economy, its gdp, and have any reduction in carbon emissions at all in the last 20 years and that's germany. other countries, which have reduced carbon emissions have done so because their economies have collapsed, places like russia, eastern europe. and for the rest of the world growth has basically meant increases in carbon. so the idea that comes from mainstream economics that you can decouple carbon from the size of the economy is not at all born out over the last 20 years. >> it's born out of germany. if someone can do it, it can be done, right? is that the answer? >> well, they've had very little slow gdp growth. and there they are an unusual economy. they've been able to export a lot of their -- big export surplus. >> everyone want to be germany. in the future, we will all be net exporters. >> can i make what is going to sound in this context like the naive case for growth and remi
with we've got to decarbonize the economy and the way we do that is expand the economy. there's really only one country that we can point to that has been able to continue to expand its economy, its gdp, and have any reduction in carbon emissions at all in the last 20 years and that's germany. other countries, which have reduced carbon emissions have done so because their economies have collapsed, places like russia, eastern europe. and for the rest of the world growth has basically meant...
WHUT (Howard University Television)
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Dec 31, 2012
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economy is important to the global economy. we don't think there'll be a u.s. recession next year, some within the global economy will accelerate to a bit over 3% growth, mainly because of countries like brazil, russia, india, china doing a little better, accelerating. at the same time as europe is in recession. but if the worst for the happen in the u.s. and were to resolve this issue, did you be looking at a much weaker global growth, somewhere around 2% perhaps. that would be something that people would feel around the globe. a >> the united nations is officially ending its peacekeeping mission in east timor. they've played a key role in helping the bloody fight for independence from indonesia. >> the united nations has been with east timor at every step of the ways in organizing the vote for independence from indonesia and 1999. the and ran the fledgling nation for three years and send in peacekeepers to quell fighting between rival factions of the armed forces in 2006 when its current mission began. the dozens of people were killed and tens of thousands fo
economy is important to the global economy. we don't think there'll be a u.s. recession next year, some within the global economy will accelerate to a bit over 3% growth, mainly because of countries like brazil, russia, india, china doing a little better, accelerating. at the same time as europe is in recession. but if the worst for the happen in the u.s. and were to resolve this issue, did you be looking at a much weaker global growth, somewhere around 2% perhaps. that would be something that...
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Dec 29, 2012
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the economy is right on that precipice. if we were to just take a shot into, you know, the back side here, you know, our consumer confidence has been dropping week by week and we'll get right back into slow growth and then we'll freak out and do something more stupid. >> you were smirking, jonas. >> to get to your original question of the stock market, i think if they did nothing, but kick the can an entire year with all of these things and pushed the whole thing the next holiday season and holiday sales like this year, i think the market would go up, wall street is happy with pushing the problem down the road even though it should be addressed sooner than that. i don't think it's good for the stock market in the short run to solve these deficit problems. maybe we can keep rates 0 low and basically get money or nothing basically. >> steve? >> this is absolutely right. everybody thinks that 4 trillion dollars is going to wreck the economy somehow. these cuts are very small in terms of the overall size of the economy. plus, p
the economy is right on that precipice. if we were to just take a shot into, you know, the back side here, you know, our consumer confidence has been dropping week by week and we'll get right back into slow growth and then we'll freak out and do something more stupid. >> you were smirking, jonas. >> to get to your original question of the stock market, i think if they did nothing, but kick the can an entire year with all of these things and pushed the whole thing the next holiday...
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Dec 30, 2012
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that would hurt our economy badly. we can get that done. democrats and republicans both say they don't want taxes to go up on middle class families. that's something we all agree on. if we can get that done, that takes a big bite out of the fiscal cliff. it avoids the worst outcomes. and we're then going to have some tough negotiations in terms of how we continue to reduce the deficit, grow the economy and create jobs. >> if the fight comes back -- i want to ask you specifically about entitlements, medicare and social security, are you prepared in the first year of your second term, to significantly reform those two programs, to go beyond the cuts you've suggested to benefits in medicare, which your own debt commission suggested you'd have to do if you were really going to shore up medicare at least. are you prepared to do that in your first year of the second term? >> what i've said is i'm prepared to do everything i can to make sure that medicare and social security are there not just for this generation but for future generations. >> you
that would hurt our economy badly. we can get that done. democrats and republicans both say they don't want taxes to go up on middle class families. that's something we all agree on. if we can get that done, that takes a big bite out of the fiscal cliff. it avoids the worst outcomes. and we're then going to have some tough negotiations in terms of how we continue to reduce the deficit, grow the economy and create jobs. >> if the fight comes back -- i want to ask you specifically about...
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Dec 31, 2012
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it did inflate the economy. the problem is that you had fiscal policy which is what the white house could control. it didn't really work. it worked horribly. we know that unemployment is going down because the labor force is shrinking. that's why it is going down. it is an unprecedented thing. the only thing left to do is monetary policy. you try to pump up the economy by printing more money. a lot of people criticize ben bernanke for that. it could sew the seeds of inflation where down the road the stuff will be way too expensive. it was the only game in town. if you believe bernanke, if he didn't do that, we may have gone into a double dip recession or something worse. >> let's talk about the fact that so many people who are heads of companies, corporations , manufacturing, service, doesn't matter what sector of the economy, there is such uncertainty looking into the new year. i want you to talk about the likelihood that businesses in this country are going to expand in this economic climate. >> i don't think
it did inflate the economy. the problem is that you had fiscal policy which is what the white house could control. it didn't really work. it worked horribly. we know that unemployment is going down because the labor force is shrinking. that's why it is going down. it is an unprecedented thing. the only thing left to do is monetary policy. you try to pump up the economy by printing more money. a lot of people criticize ben bernanke for that. it could sew the seeds of inflation where down the...
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Dec 31, 2012
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the economy took off. unemployment came down. the economy started going. and we were paying down the deficit. we had three straight years or four of surpluses. c.b.o. said if we continued on that way, we would pay off the national debt by 2010. well, then george bush came into office, they looked at all the surpluses out there and said guess what? we've got to take some of that and give it back in tax cuts, and that's what they did. now that's what's ending tonight. that's what ends tonight, are those bush tax cuts. so we go back to the tax system that we had under bill clinton. i ask, what's so bad about that? it worked pretty darned well. the economy was going well. we were paying down the deficit. things were going well under bill clinton, under that tax system, and that's what we'll go back to tomorrow. what's so bad about that? well, what's happened is in the last ten years a lot of people have gotten very rich in this country. very rich. and now they want to protect their wealth. and that's what they want to do. they want to lock in this system on es
the economy took off. unemployment came down. the economy started going. and we were paying down the deficit. we had three straight years or four of surpluses. c.b.o. said if we continued on that way, we would pay off the national debt by 2010. well, then george bush came into office, they looked at all the surpluses out there and said guess what? we've got to take some of that and give it back in tax cuts, and that's what they did. now that's what's ending tonight. that's what ends tonight,...
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let's look at the economy. obviously across-the-board tax increases would hurt the economy, but what would the real economic reaction be to small tax increases on the wealthiest americans? now, annie lowry of "the new york times" is still with us. i have to make sure my viewers understand i am not advocating for tax increases on the rich. gene is a senior writer. kevin haas, senior director at the american enterprise institute, the author of much of mitt romney's economic policy, a good friend of the show. gene, let me start with you. tax increases on people making more than $250,000 a year. use that as a number. might be $400,000, half a million, a million. take $250,000. if you increase taxes, the marginal tax rate from 35% to 39.6% on that group of people, does it hurt the economy? >> well, i'm going to use estimates from the congressional budget office, which is a nonpartisan scorekeeper for congress. they found if you let those bush tax cuts on high-income folks expire at that level it would not boost the
let's look at the economy. obviously across-the-board tax increases would hurt the economy, but what would the real economic reaction be to small tax increases on the wealthiest americans? now, annie lowry of "the new york times" is still with us. i have to make sure my viewers understand i am not advocating for tax increases on the rich. gene is a senior writer. kevin haas, senior director at the american enterprise institute, the author of much of mitt romney's economic policy, a...